Thailand’s Prime Minister Abhisit Vejjajiva has pledged to introduce property and inheritance taxes in an effort to shore up the government’s revenue collection base. Under Current Thai law, no tax is applied on earnings from non-leasehold land and property. Proposals to amend the legislation were first mooted over a decade ago but were met with strong opposition from politicians, many of whom are themselves big landowners. Abhisit however said the government would go ahead with the proposals as they were part of wider tax reforms aimed at improving the public welfare system. The new property tax would combine land and… Read more »